abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Shares Gap Down – Should You Sell?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) shares gapped down before the market opened on Friday . The stock had previously closed at $218.67, but opened at $209.84. abrdn Physical Platinum Shares ETF shares last traded at $206.3250, with a volume of 550,165 shares trading hands.

abrdn Physical Platinum Shares ETF Price Performance

The business’s 50-day simple moving average is $171.11 and its 200 day simple moving average is $145.59.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

A number of institutional investors have recently bought and sold shares of PPLT. Team Financial Group LLC purchased a new stake in abrdn Physical Platinum Shares ETF in the fourth quarter worth about $33,000. Raleigh Capital Management Inc. bought a new stake in abrdn Physical Platinum Shares ETF during the 3rd quarter worth approximately $34,000. Ball & Co Wealth Management Inc. bought a new position in shares of abrdn Physical Platinum Shares ETF in the third quarter worth approximately $34,000. West Oak Capital LLC purchased a new stake in shares of abrdn Physical Platinum Shares ETF in the second quarter worth $33,000. Finally, Assetmark Inc. raised its position in shares of abrdn Physical Platinum Shares ETF by 407.3% during the 3rd quarter. Assetmark Inc. now owns 279 shares of the company’s stock valued at $40,000 after purchasing an additional 224 shares during the period. 20.03% of the stock is owned by institutional investors.

abrdn Physical Platinum Shares ETF Company Profile

The abrdn Physical Platinum Shares ETF (PPLT) is an exchange-traded fund that is based on the Platinum London PM Fix index. The fund tracks the platinum spot price, less trust expenses, using platinum bullion. PPLT was launched on Jan 8, 2010 and is managed by Abrdn.